CHENNAI: The Central Crime Branch (CCB) sleuths have arrested a 40-year-old film producer, V Palanivel, for cheating a nationalised bank by submitting fake documents and selling a property to one D Sivaranjan with the forged documents.
The fraud came to light when Sivaranjan approached the revenue office to get the encumberance certificate (EC) for his property a month ago.
Sivaranjan was shocked and lodged a complaint against Palanivel at the Police Commissionerate. The petition was subsequently forwarded to the Central Crime Branch.
A case was registered and police teams arrested Palanivel on Thursday on charges of cheating.
During questioning, Palanivel confessed to having committed the crime.
He told the police that his movie was under production. Police said Palanivel had bought an 835 sq.ft apartment from a private builder. Subsequently, he gave the power of attorney to one Rajagopal. Meanwhile, he sold the property to Sivaranjan for Rs 33.40 lakh concealing the fact that the house was sold to Rajagopal. Later, Palanivel mortgaged the property for Rs 18 lakh with the Central Bank of India.
The film producer was remanded in the Puzhal prison.